Ecofin Consider Proposals to Amend the Savings Directive and the Proposed Introduction of Standard VAT Returns
The Council on Economic and Financial Affairs met in Brussels last month and a number of tax items were on the agenda. These included a discussion on extending the scope of the Savings Directive, a review of the Commission’s proposal to introduce a standard VAT return throughout the EU (see earlier story) and the authorising of VAT derogations including the continued application in the UK of a right of deduction of VAT borne on the hire or lease of motor cars also used for private purposes.